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Les complémentarités en macroéconomie: éléments théoriques et empirique

Russel Cooper and John Haltiwanger

Annals of Economics and Statistics, 1995, issue 37-38, 163-196

Abstract: This paper studies the role of macroeconomic complementarities, defined as interactions between individuals in a multiagents setting. These models imply that agents'decisions are positively correlated, that decisions are synchronized and that shocks are magnified and propagated. This paper shows that these results can be found in aggregate data or in some microeconomic examples. Moreover, some historical episodes, as the National Industrial Recovery Act period, and the study of seasonnal fluctuations are in favour of these models with macroeconomic complementariries.

Date: 1995
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Handle: RePEc:adr:anecst:y:1995:i:37-38:p:163-196